In 2014, the Homeowner Flood Insurance Affordability Act (HFIAA) was signed into law. Part of the legislation requires that FEMA communicate flood risk determinations to individual property owners. FEMA is currently reviewing every flood insurance policy and will be writing to all National Flood Insurance Program (NFIP) policy holders to explain the current risk level for their property. Starting this month (January 2017) policy holders will begin receiving letters from FEMA approximately two months prior to their policy renewals. FEMA will mail a letter at each subsequent renewal.
The NFIP has identified seven categories of policyholders to receive unique information based on their risk and current premium rates. To read more about what each category means and if it applies to you please visit this FEMA Website. If you have questions about Flood Insurance Rate Maps (FIRMs) or how flood insurance is rated select staff at the AWSMP can help answer your questions or direct you to other resources. Please call 845–688-3047 ext.3 for assistance. If you have questions about your specific flood insurance policy then you should contact your insurance agent directly.Tags: FEMA, FIRM, Flood Insurance